Chicago-based Ryan Specialty completed the purchase of Jacksonville-based US Assure Insurance Services of Florida on Aug. 30 for $1.075 billion in cash and up to $400 million in additional payments based on meeting performance targets during the three years after the purchase.
US Assure specializes in builder’s risk insurance and became a part of the Ryan Specialty Underwriting Managers division of Ryan Specialty, an international specialty insurance intermediary.
Ryan Specialty said Aug. 2 it plans to keep the US Assure name and the headquarters of US Assure in Jacksonville, and retain its 160 employees and leadership, including CEO Ty Petway.